Ready to support German private sector investment in Thailand

Government House, Prime Minister discusses with representatives of the German private sector. Ready to facilitate Open to all missions Focus on economic growth together Ready to raise the level of FTA negotiations for the benefit of private sectors in both countries. Mr. Settha Thavisin, Prime Minister and Minister of Finance, held a full discussion with Mr. Frank-Walter Steinmeier, President of the Federal Republic of Germany, and Mr. Michael Kellner, Deputy Minister of Economy and Finance. Climate Action Federal Republic of Germany (BMWK) and the German private sector delegation which consists of representatives from 12 companies in 5 fields: 1. International trade fair exhibition branch 2. Electronics and automotive industries 3. Renewable energy and environment 4. Digital services and education and 5. Construction materials Construction and infrastructure To exchange opinions and needs regarding trade and investment promotion. The German president said that Germany believes in close and strong ties bet ween the two countries. Thailand is considered the first country to have both diplomatic and trade relations with Germany for a long time since 1862. It is believed that Thailand is not only a country of trade and investment. But it is a good ally for Germany. Believe in working together to develop a bright future together. Including admiring the political stability of Thailand. This reflects that Thailand is ready to open for business. Germany is ready to raise the level of trade and investment together. Prime Minister's side Pleased to meet with representatives of the German private sector today. While ML Chayothit Kridakorn, Thai Trade Representative Summarized the discussions obtained from the German private sector delegation together with relevant Thai agencies that The results of the discussion went well. It reflects the good and close relationship between the Thai and German business sectors. He emphasized Thailand's new economic paradigm in various issues, including 1. Making Thailand an important ch oice for investment as a production and industrial sector with clean energy. 2.) Presenting the automotive industry. which Thailand has the largest production base in the region which believes that the participation of German car companies will be able to transition to the electric vehicle (EV) production sector in Thailand. 3. Digital development Thailand has one of the most extensive 5G network coverage in the region. There are improvements Develop a digital platform that supports both personal use and industrial use. 4. Promotion of the electronics and automotive industries. which was discussed with the Board of Investment Specifically, companies producing microchips and future electronic components for the EV industry. '5. Supporting sustainability Thailand aims to reach carbon neutrality by 2050. By February 2024, the government is in the process of creating the first Green Tariff in Southeast Asia that will provide services. 24 hours a day, ready to provide care Follow every company investing in Thaila nd. Including the creation of renewable energy, such as solar energy projects from 7 water storage dams in Thailand, which are produced by many German companies. Paying attention to renewable energy They agreed to continue participating in terms of technology transfer and investment in Thailand. And 6. In terms of FTA negotiations, they emphasized negotiations with the European Union. Thailand places importance on green energy. to produce environmentally friendly products such as electric cars and other carbon-reducing products. All discussions will be discussed continuously in the best interests of both countries. The Prime Minister discussed the government's economic policy. Emphasis on several main policies both in terms of stimulating the economy in the short term and long-term structural reforms At the same time, the government will promote environmentally friendly growth. and carbon neutrality policy, along with the clearest roadmap for achieving that goal. Especially in the area of ??improving large-s cale infrastructure such as airport development. Railway system development, Landbridge project 'Thailand is ready to facilitate doing business for foreign private sectors in Thailand. Thailand is open to doing business freely. There are tax incentives. Including the automotive industry which Germany is considered to be the world's leading leader The government is ready to step up negotiations on a Free Trade Agreement (FTA), which will benefit the private sector from both Thailand and Germany. and is scheduled to visit the Federal Republic of Germany in March 2024 to meet with German companies. We are confident that we will work closely with the German private sector,' the Prime Minister said. The Prime Minister said Thailand is ready to integrate cooperation. Facilitate business sectors that want to expand investment in Thailand. Thailand's political potential and stability clearly indicate and are of great importance to the business environment. It will help build more confidence for investors. The gover nment is willing to consider all suggestions and will continue to work closely together. Source: Thai News Agency